Hong Kong, Singapore and Taiwan companies looking overseas for growth

Zafar Anjum |
May 21, 2014

A Regus survey suggests that the entrepreneurial Hong Kong faces stiff competition from regional rivals such as Singapore and Taiwan while Mainland China firms are focused on expanding in domestic markets

While 42% of companies around the world are looking for growth in domestic markets, outward-looking Hong Kong is bucking the trend.

This is according to the latest international business survey by Regus, a global workplace provider, based on the opinions of more than 20,000 senior executives and business owners across 95 countries.

Revealing the sutvey results, Regus said in a statement that while just 17% of firms globally are looking overseas to drive growth, in Hong Kong the number targeting international markets is 26%. Also, less than 20% of Hong Kong respondents are pinning their growth hopes on domestic market expansion.

Similarly, Singapore's companies are looking outward for growth. Regus says 33% of firms surveyed reported they are mainly experiencing growth by expanding abroad, and just 17% are aiming to expand in new markets within the country.

Taiwan too is on the same path: nearly twice as many firms there than in Hong Kong - 46% - reported that they are mainly experiencing growth by expanding abroad. Only 15% reported experiencing growth by expanding in new domestic markets.

However, in Mainland China, the focus is on the domestic growth: In China, only 13% of respondents reported that they are experiencing growth by expanding abroad. This compares with 57% of respondents report mainly experiencing growth by expanding in new markets within the country.